NextEra Energy Partners (NYSE:NEP) Trading 0.4% Higher

NextEra Energy Partners, LP (NYSE:NEPGet Free Report) traded up 0.4% during trading on Tuesday . The stock traded as high as $34.09 and last traded at $33.77. 224,310 shares traded hands during trading, a decline of 84% from the average session volume of 1,440,710 shares. The stock had previously closed at $33.64.

Analyst Ratings Changes

NEP has been the subject of a number of research analyst reports. Oppenheimer reiterated a “market perform” rating on shares of NextEra Energy Partners in a research report on Wednesday, April 24th. StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $25.00 price target on shares of NextEra Energy Partners in a research note on Thursday, May 23rd. Raymond James cut their price objective on NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, April 3rd. Finally, Marathon Capitl reaffirmed an “equal weight” rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $39.29.

View Our Latest Stock Analysis on NEP

NextEra Energy Partners Stock Up 1.3 %

The company has a market capitalization of $3.19 billion, a P/E ratio of 11.07 and a beta of 1.01. The stock has a 50 day moving average price of $29.78 and a 200 day moving average price of $28.43. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.31 and a current ratio of 1.36.

NextEra Energy Partners (NYSE:NEPGet Free Report) last released its earnings results on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.63. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. The firm had revenue of $257.00 million for the quarter, compared to analysts’ expectations of $331.78 million. During the same period in the previous year, the company earned ($0.17) earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that NextEra Energy Partners, LP will post 1.89 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th were given a $0.8925 dividend. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.88. This represents a $3.57 dividend on an annualized basis and a yield of 10.48%. The ex-dividend date of this dividend was Monday, May 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 117.05%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC boosted its position in NextEra Energy Partners by 174.0% during the third quarter. Private Advisor Group LLC now owns 14,706 shares of the solar energy provider’s stock worth $437,000 after purchasing an additional 9,339 shares during the period. abrdn plc grew its stake in NextEra Energy Partners by 122.9% in the 3rd quarter. abrdn plc now owns 506,234 shares of the solar energy provider’s stock valued at $15,035,000 after buying an additional 279,100 shares in the last quarter. Arizona State Retirement System raised its holdings in NextEra Energy Partners by 4.1% during the 3rd quarter. Arizona State Retirement System now owns 25,313 shares of the solar energy provider’s stock valued at $752,000 after acquiring an additional 997 shares during the period. Jump Financial LLC lifted its position in shares of NextEra Energy Partners by 898.1% during the third quarter. Jump Financial LLC now owns 129,291 shares of the solar energy provider’s stock worth $3,840,000 after acquiring an additional 116,337 shares in the last quarter. Finally, Executive Wealth Management LLC boosted its holdings in shares of NextEra Energy Partners by 3.4% in the third quarter. Executive Wealth Management LLC now owns 113,119 shares of the solar energy provider’s stock worth $3,360,000 after acquiring an additional 3,700 shares during the period. Institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Company Profile

(Get Free Report)

NextEra Energy Partners, LP acquires, owns, and manages contracted clean energy projects in the United States. It owns a portfolio of contracted renewable generation assets consisting of wind, solar, and battery storage projects. The company owns contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is based in Juno Beach, Florida.

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